Marsh & McLennan Agency Acquires Blakestad, Inc.
White Plains, NY | March 02, 2017
Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, today announced that it has acquired Blakestad, Inc., a private client and commercial lines independent insurance agency. Terms of the transaction were not disclosed.
Headquartered in Minneapolis, Minnesota, Blakestad provides property/casualty insurance to privately held businesses and individuals, with particular expertise in working with high-net worth individuals and families worldwide. All of Blakestad’s employees and leadership, including its president Jerod Blakestad, are joining MMA and will continue operating out of the firm’s current Minneapolis office.
“The addition of Blakestad to our firm expands our capabilities in the private client market with an established agency and highly regarded team of professionals,” said Bill Jeatran, CEO of MMA’s upper Midwest region.
Mr. Blakestad added: “We look forward to joining the MMA team, which allows us to expand the resources we can offer clients and continue to grow our practice.”
About Marsh & McLennan Agency
Marsh & McLennan Agency LLC is a subsidiary of Marsh established in 2008 to serve as a platform for the middle market. In 2015, it expanded its national footprint into Canada. MMA offers commercial property, casualty, personal lines, and employee benefits to midsize businesses and individuals across North America.
A global leader in insurance broking and innovative risk management solutions, Marsh’s 30,000 colleagues advise individual and commercial clients of all sizes in over 130 countries. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With annual revenue over US$13 billion and more than 60,000 colleagues worldwide, MMC helps clients navigate an increasingly dynamic and complex environment through four market-leading firms. In addition to Marsh, MMC is the parent company of Guy Carpenter, which develops advanced risk, reinsurance and capital strategies that help clients grow profitably and pursue emerging opportunities; Mercer, which delivers advice and technology-driven solutions that help organizations meet the health, wealth and career needs of a changing workforce; and Oliver Wyman, a critical strategic, economic and brand advisor to private sector and governmental clients. Follow Marsh on Twitter @MarshGlobal; LinkedIn; Facebook; and YouTube, or subscribe to BRINK.